Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look Out for Before the End of the Year
With the advancement of blockchain and Web3 technology, gaming tokens are becoming increasingly popular for their functionality and usefulness in decentralized environments. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership over their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable surge in growth, with specific tokens standing out as successful entities. These tokens are not only fostering advancement in gaming utilizing blockchain technology, but they are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that initially began as a joke token but is now aiming to establish a presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for various activities.
In Valhalla, users can engage in battles and complete different tasks within the game to earn FLOKI. This digital currency can be used to purchase in-game weapons, armor, and NFTs that are valuable assets in Valhalla. In addition, there is a governance feature being worked on that would give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has shown strong performance, with significant growth over the past 30 days and year. With a market cap of $1.33 billion, FLOKI is becoming more popular as more people join the Valhalla community.
Immutable X (IMX) is a solution for Ethereum's scalability issue, particularly for gaming NFTs. This platform, which uses zk-rollups, enables the creation and exchange of NFTs without gas fees, making it ideal for blockchain games. Due to its effectiveness, Immutable X has gained the attention of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its ability to process transactions without fees and its quick scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that its games on Telegram, where users can earn rewards by tapping, have attracted over 3 million players. This milestone comes just before the release of its new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for players who wish to engage with Gala's gaming ecosystem. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on creating sophisticated and high-quality games that can scale effectively. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This setup allows XAI to leverage Ethereum's security features, Arbitrum's scalability, and a gaming-specific layer for enhanced performance.
XAI is emerging as a significant player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential aspects for delivering top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn system that has gained significant popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This straightforward and innovative method has attracted millions of users to the currency and has even been proposed as a potential revenue stream for Telegram.
Although Notcoin has experienced a decrease in value in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its continued importance in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
As Web3 Gaming tokens play a significant role in the future of blockchain gaming, it is important to understand that market conditions can be unpredictable. It is recommended that individuals conduct their own research before making any investment decisions.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to explain complicated ideas in a way that is easy to understand in his articles.
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